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The intersection of cryptocurrencies and artificial intelligence could add $20,000,000,000,000 to the global economy
The convergence of crypto and artificial intelligence (AI) technologies could provide a $20 trillion boost to the global economy, according to asset management giant Bitwise.
The company's senior cryptocurrency research analyst, Juan Leon, says in a new report that the intersection of cryptocurrency and artificial intelligence will be "even greater than people imagine."
Leon says the global race for AI supremacy has created unprecedented demand for data centers, forcing most industry giants to ramp up to full capacity, with even those under construction being pre-leased.
Bitcoin (BTC) miners could be among the beneficiaries of the new demand for data, an analyst says.
“And then the miners come to the rescue.
Bitcoin miners—the computer networks that secure the Bitcoin blockchain—are created for the sole purpose of processing and storing enormous amounts of data. In other words, they have the very resources - powerful chips, advanced cooling systems and supporting infrastructure - that artificial intelligence companies desperately need."
According to Leon, another area where cryptocurrency could intersect with AI is in virtual assistants. Since the ability of virtual assistants such as Apple's Siri to perform complex tasks is currently very limited, the analyst says it will likely be necessary to integrate artificial intelligence assistants with blockchains and make them work with digital money.
“Combining AI assistants with smart contracts and native digital money such as Bitcoin or stablecoins, which are designed to move securely without the slow oversight of centralized entities, could open up new opportunities to further improve our productivity.
Developments like these lead me to believe that the integration of artificial intelligence and cryptocurrency will benefit both sectors, changing the way we innovate and interact with the world.”
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